Europeans Seek Safeguard Against Increased Steel Imports Resulting Form U.S. Tariffs

SEATTLE (Scrap Monster): Eurofer, the European Steel Association, is blaming tariffs imposed by the United States for a surge of imports into Europe and says that producers on the continent must be protected.

European steel imports increased by 8.4 percent through the first four months of 2018, and Eurofer said that is “almost certainly as a result of the Section 232 effect.” The Trump administration imposed 25 percent tariffs on steel imports following the Commerce Department’s Section 232 investigation of the impact of steel imports on national security.

Eurofer Director General Axel Eggert recommended the implementation of a “quickly-deployed safeguard that covers the full product scope that will be affected.” The purpose of this, he said, “is not to exclude imports: it is preventative remedial action against the threat posed by import surges.”

“We regret that the U.S. has taken this unnecessarily damaging step,” Eggert said. “We support the [European] Commission in its responses to the U.S.’s trade action and urge all E.U. stakeholders to remain united in order to face down both the U.S.’s measure and the incoming inundation of deflected steel products.”

The European Commission announced in March that it would conduct a “safeguard investigation” related to steel imports. Although the investigation is expected to take nine months to complete, European Union Trade Commissioner Cecilia Malmstrom said in early June that “pre-measures” could be put in place as soon as July.

Courtesy: AIIS